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Damn Adrian...

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SouthCarolinaViking
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Adrian Peterson ordered to pay $2.4 million after defaulting on a loan
 
Mike Florio 
 © Getty ImagesStop us if you’ve heard this one before. Actually, you have heard this one before: Adrian Peterson has defaulted on a multi-million-dollar loan.
You’ve heard it before and you’re hearing it again, because Peterson has now been ordered by two different courts in two different states to pay the balance of two mullti-million-dollar loans taken out in 2016. Holden Wilen of the Baltimore Business Journal reports that a Maryland judge has ordered the Washington running back to pay roughly $2.4 million after Peterson defaulted on a loan from Democracy Capital Corp., a Montgomery County lending service.
Per the report, Peterson borrowed $4 million in April 2016, the spring before his last year in Minnesota. Peterson initially failed to make the first $200,000 payment in July 2017, pushing the interest rate from 15 percent to 23 percent. Peterson also failed to pay the loan in full when it matured in February 2018. Peterson paid $1.65 million in July 2018, and another $50,000 in late December. A court order entered last month requires Peterson to pay roughly $2.4 million. Coincidentally, Peterson borrowed $2.4 million in May 2016 from another lending institution, defaulting only five months later. Eventually, a Minnesota court ordered Peterson in October 2017 to pay roughly $600,000. Peterson signed a two-year, $5 million deal with Washington earlier this year. The deal includes $1.5 million in guaranteed money, and incentives of up to $1.5 million per year. In 10 years with the Vikings, Peterson earned $94 million. He made another $3.5 million in 2017 with the Saints and Cardinals, and $1 million last year in Washington. With 13,318 rushing yards, Peterson ranks as No. 8 on the all-time list. He’s 783 yards away from passing Hall of Famer Curtis Martin for the fifth spot on the all-time list. Peterson still aspires to become the league’s all-time league rusher. He needs 5,037 yards to get there; even though he’s 34, it wouldn’t be wise to bet against him.
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#1 · Jul 2, 7:40 AM
DE
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Life is hectic, its easy to forget paying the bills...

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#2 · Jul 2, 8:09 AM
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#3 · Jul 2, 8:20 AM
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This might become a more frequent news story as his paychecks diminish.

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#4 · Jul 2, 8:35 AM
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Well, Adrian got to maintain that lifestyle either by hook or crook...

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#5 · Jul 2, 9:47 AM
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sad,  so sad,  the league sends these rookies to classes specifically centered on being financially smart with their money,  he must have screwed the teacher and left the book behind.  its a good thing those agents are looking out for their clients interests.

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#6 · Jul 2, 9:49 AM
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Someone drive by his house and see if the power is still on.

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#7 · Jul 2, 9:56 AM
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@"suncoastvike" said: Someone drive by his house and see if the power is still on.


somebody drive by one of his kids homes and see if the power is still on.

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#8 · Jul 2, 10:07 AM
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@"JimmyinSD" said:
@"suncoastvike" said: Someone drive by his house and see if the power is still on.


somebody drive by one of his kids homes and see if the power is still on.

You couldn't check all his kids' homes unless you have a lot of gas money...

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#9 · Jul 2, 10:28 AM
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@"Jor-El" said:
@"JimmyinSD" said:
@"suncoastvike" said: Someone drive by his house and see if the power is still on.


somebody drive by one of his kids homes and see if the power is still on.

You couldn't check all his kids' homes unless you have a lot of gas money...


Somebody drive by Adrian's baby mommas' homes and see if the power is on.  I should say fly by because  they're probably coast to coast...

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#10 · Jul 2, 10:31 AM
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@"SouthCarolinaViking" said:
In 10 years with the Vikings, Peterson earned $94 million. He made another $3.5 million in 2017 with the Saints and Cardinals, and $1 million last year in Washington.



I'm assuming these figures don't include any endorsements he had made before his legal troubles.  Guess $100 mill doesn't go as far as it used to.  Anybody else see a lawsuit coming against his agents for fraud and embezzlement?

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#11 · Jul 2, 11:12 AM
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Im sure glad i didnt get $100m to waste on giraffes at birthdays and stuff like that. 

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#12 · Jul 2, 2:58 PM
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Those camels aren't gonna just show up ya know.

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#13 · Jul 2, 3:12 PM
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Who was the forum guy a few years ago when the news of AD taking loans came out who kept telling me I didn't understand "how rich people operate"?   I understood then as I do now that rich AD got hustled and used by everyone around him because at heart he's just a not-too-bright country boy.   

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#14 · Jul 2, 5:33 PM
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The NFLPA needs to do a better job teaching their members.  These stories are way to common.

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#15 · Jul 2, 8:34 PM
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A $4 million loan at 15%?? That is idiotic. How can the guy be money-strapped enough to take out a loan at that rate? That's not what smart people do, but it is Adrian Peterson.

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#16 · Jul 3, 7:16 AM
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@"comet52" said: Who was the forum guy a few years ago when the news of AD taking loans came out who kept telling me I didn't understand "how rich people operate"?   I understood then as I do now that rich AD got hustled and used by everyone around him because at heart he's just a not-too-bright country boy.   
When money is cheap to get a loan on, say you can borrow at like 3-4%, it does make sense for different reasons. Wealthy people still borrow money but its needs to be a low interest rate as taking out $4 million in cash isn't smart either as you could use that money to invest. Unless you are SUPER wealthy, then it doesn't matter what you pay for in cash. 

15% on $4 mill with an escalator clause to 23% after a late payment is so so STUPID.

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#17 · Jul 3, 7:19 AM
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@"StickyBun" said: A $4 million loan at 15%?? That is idiotic. How can the guy be money-strapped enough to take out a loan at that rate? That's not what smart people do, but it is Adrian Peterson.
You definitely answered your own question.

AD had to be one of the dumbest fuckers to have ever had a mic shoved in his face,  lots of people say stupid shit,  but AD has always doubled down with stupid actions to back up any suspicions.

I loved watching him run,   but thats where it ended.

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#18 · Jul 3, 7:19 AM
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Do they provide airfare and hotel during HOF enshrinement week?
I doubt he'll even have a credit card by that point.

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#19 · Jul 3, 7:35 AM
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@"Bolstad79" said: The NFLPA needs to do a better job teaching their members.  These stories are way to common.
you can lead a camel to water, but unless you shove his head under and start sucking on the other end, you can't make him drink.
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#20 · Jul 3, 10:42 AM
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@"greediron" said:
@"Bolstad79" said: The NFLPA needs to do a better job teaching their members.  These stories are way to common.
you can lead a camel to water, but unless you shove his head under and start sucking on the other end, you can't make him drink.
LMAO. 
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#21 · Jul 3, 12:07 PM
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